Anonymous
Years ago

Bullets price reasonable: Loeliger

Bullets were nearly sold this off season but talks fell through.

"NBL CEO Jeremy Loeliger says the $5 million-plus price tag on the Brisbane Bullets is not too high despite the club being on the market for more than six months.

NBL owner Larry Kestelman said in April the Bullets were up for sale for $5-10 million.

Loeliger said the NBL went "very, very close" to selling the Bullets to one consortium during the off-season but talks “lost steam'’.

“The Bullets is a slightly smaller market than Melbourne but it’s got great brand equity. When you break it down ... by global standards it’s not a high asking price at all,’’ he said.

“It’s still on the market and there’s some pretty viable conversations taking place at the moment.

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Anonymous
Years ago

Yeah cos they stuffed it up apparently.

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Anonymous
Years ago

"The Bullets is a"

So what happened re: stuff up?

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Cram
Years ago

If someone is stupid enough to pay $5M for an NBL licence, they deserve the inevitable bankruptcy

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AD
Years ago

I think its more than reasonable.

First simple fact is that if you can't afford to drop $5M in pocket-change, then you can't afford an NBL team.

It's not an investment. It's like owning a big boat, or a flashy mansion. You do it because you love the game, love the city, and love the idea of being an owner. It's not a matter of it being "an NBL licence." It's "The Brisbane Bullets."

I don't know who the big movers and shakers are in Brisbane? But that's who you want.

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Cram
Years ago

"First simple fact is that if you can't afford to drop $5M in pocket-change, then you can't afford an NBL team."

And that is the reason why this model isn't sustainable.

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Anonymous
Years ago

"I don't know who the big movers and shakers are in Brisbane?"

sitivani is, apparently.

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Anonymous
Years ago

How much did the overseas investor pay for the South East Melbourne licence?

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NBL Fan
Years ago

$5-$8m was what was quote for the SE Melb licence.

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Luuuc
Years ago

Slice another half a mil off their value after tonight :/

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Anonymous
Years ago

Haha yeah, not much entertainment value about the Bullets tonight!

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AD
Years ago

"And that is the reason why this model isn't sustainable."

No its the very reason that it IS.
You can't run an NBL franchise on a shoestring.
Cairns is still managing it, everyone else has failed, and at least now there are deep enough pockets to tax and help them out if needed.

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Agent Oso
Years ago

Possibly one of the stupidest thing youve said there Dazz, how does being reliant on owners who are wealthy enough to not care about losing money make the league sustainable?

Until we can get all clubs and the league itself to a point where they are financially breakeven at worst we are vulnerable to a downturn with the 'sugar daddy' owner that means they can no longer stomach burning through their cash, can’t sell because the team is a loss making investment and simply walks away

See Firepower/Eddy Groves/GC Blaze etc etc

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Anonymous
Years ago

Agent Oso. Those guys you mentioned above weren't burning their own money. They were burning someone else's

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Anonymous
Years ago

someone please link AD to the definition of 'sustainable'

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Anonymous
Years ago

AD AKA Dazz has never been bright. Another classic by him.

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Hoops

Bullets price reasonable: Loeliger

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